Revenue crossed
Subsidiary NetNut’s revenues surged 150% in the fourth quarter of 2023 and 150% also for the entire year - amounted to more than
Based on a preliminary, unaudited review, Alarum anticipates reporting strong performance for the fourth quarter of 2023 and the entire year of 2023, highlighting accelerated operating and business growth:
- Revenue for the fourth quarter of 2023 is estimated at more than
$7 million , representing the highest quarterly revenues achievement to-date and an increase of 35% compared to the same period in 2022. - In the fourth quarter of 2023, the Company generated approximately
$2.8 million in cashflow from operating activities, compared to a negative cashflow of approximately$1.8 million for the same period in 2022. - Total expected revenue for 2023 is estimated at
$26.5 million , an increase of approximately 41% compared to total revenue of$18.8 million in 2022. - Cash and cash equivalents balance as of
December 31, 2023 , amounted to approximately$10.8 million .
In 2023, the Company made a strategic shift towards focusing on growth and business activity of its wholly owned subsidiary,
"Alarum is pleased to start 2024 with a strong growth momentum, following the year 2023. We intend to continue supporting our future growth also by expanding our offering in the data collection market and launch new innovative products." commented
"The amazing results we achieved in the fourth quarter of 2023 emphasize the positive impact advanced by the strategic business changes we implemented during 2023, which are fostering growth and success. Following our decision to focus on improved profitability and reduce investments in the consumer segment, we anticipated that most of our fourth-quarter revenues will be generated by NetNut. These revenues alone surpass the combined revenue of both NetNut and consumer segments from previous periods," Daniel added. "During the fourth quarter, we also increased our cashflow from operating activities and continued our focus on being a profitable growth company."
Alarum expects to release the fully reviewed financial statements for the fourth quarter and full year 2023 on or before
About
For more information about Alarum, please visit www.alarum.io
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws and the Israeli securities law. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Alarum is using forward-looking statements in this press release when it discusses potential profitability, its preliminary unaudited results for the fourth quarter and the year ended
The Company is providing revenue, cashflow from operating activities and cash and cash equivalents balance estimates in this press release, rather than final amounts, primarily because the financial closing process and audit are not yet complete and, as a result, the Company’s final results upon completion of its closing process and audit may vary from these preliminary estimates.
INVESTOR RELATIONS CONTACTS:
+972-(0)52-3044404
investors@alarum.io
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